There is an adjustment in the Nigerian bank ATM card withdrawal limits.

In the new adjustment, all ATMs that were enabled for domestic and foreign transactions have been restructured to limit Naira cash withdrawal at ATMs to N150, 000 per day (i.e. domestic withdrawal limit is N150, 000 per day) while foreign currency is $300 per day. The cash can be withdrawn from ATM machine in multiples of 5000, 10000, 15000, 20000, 25000, 30000 and 35000 depending on the bank’s ATM.

The new adjustment has separated traditional ATM from MasterCard credit card where the former has now been deactivated and can no longer be used for transactions abroad.

A single ATM card serves for transactions for both domestic and abroad.

The adjusted ATM cards now have spending limits on POS and eCommerce (online shopping) pegged at $300 (that is about N60, 000) per day. On December 2016, some banks further limits online shopping spending limit to $100 per day. Unlike before, the limit was N2 million per day.

Currently, the funding limit of third party account like Skrill account, PayPal, Payoneer etc. is pegged at $100 per month.

In this new arrangement, a bank customer with multiple debit cards (ATM cards) can only transact abroad with one linked to the primary transactional account. Such customers could also transact with any of the cards that is funded.

However, banks are working hard to ensure that there are alternatives in these adjustments for an customers are now being directed by their banks to reapply for a new card arrangement to suit their purposes.

In view of this, GTBank now has Dollar MasterCard which is primarily for limitless online shopping, payment making and other transactions abroad and online from the domiciliary account.

Nigerian Bank USSD transfer limits

Banks like GTbank, Fidelity, Access bank, Diamond bank etc. allows a maximum USSD code transfer limit of up to N200, 000 per transaction and maximum transfer limit of N500, 000 per day while Firstbank of Nigeria claim to allow a maximum transfer limit of up to N1million per day.

Please note: This post will be updated if there is change or adjustment in above mention ATM cards withdrawal and transfer limits, so always visit to check for update.